CFX Token Faces 2.48% Price Dip Amid Profit-Taking, PoW Reward Cut, and Major Token Unlock

Conflux (CFXUSDT) experienced a 2.48% price decrease over the past 24 hours, with the current price at $0.2083 according to Binance. The recent pullback is primarily attributed to profit-taking following July’s strong rally driven by the Conflux v3.0 upgrade announcement, as well as market anticipation of upcoming events such as the PoW reward reduction and a 500 million token unlock scheduled for August 10–11. Additional factors include increased selling pressure highlighted in technical analyses and short setups, alongside broader market volatility. Trading volume remains robust, ranging from $147 million to $191 million, with a market capitalization between $1.06 billion and $1.10 billion, reflecting continued active interest in the asset.